KEC International to sell its 381 telecom sites to ATC Telecom Tower Corp

KEC International Ltd has informed BSE that the Company has entered into a binding agreement for sale of its telecom assets in the states of Chhattisgarh, Meghalya and Mizoram consisting of 381 telecom sites to ATC Telecom Tower Corporation Private Limited.

KEC International Ltd has informed BSE that the Company has entered into a binding agreement for sale of its telecom assets in the states of Chhattisgarh, Meghalya and Mizoram consisting of 381 telecom sites to ATC Telecom Tower Corporation Private Limited. The transaction is subject to obtaining necessary regulatory and third party approvals and complying with the conditions mentioned in the agreement.Source : BSE

Read all announcements in KEC Intl

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TCS Q4 net may rise to Rs 5483.6 cr: Motilal Oswal

Sales are expected to increase by 0.2 percent Q-o-Q (up 14 percent Y-o-Y) to Rs 24559.6 crore, according to Motilal Oswal.

Motilal Oswal has come out with its fourth quarter (January-March) earnings estimates for the technology sector. The brokerage house expects Tata Consultancy Services  (TCS) to report a 0.7 percent growth quarter-on-quarter (growth of 3.5 percent year-on-year) in net profit at Rs 5483.6 crore.

Sales are expected to increase by 0.2 percent Q-o-Q (up 14 percent Y-o-Y) to Rs 24559.6 crore, according to Motilal Oswal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 0.1 percent Q-o-Q (up 6.1 percent Y-o-Y) to Rs 7061.7 crore.

Motilal Oswal's Report on Tata Consultancy Services:

In terms of 4QFY15 performance, TCS expects revenue in constant currency to be in line with 4QFY14 (1.9 percent QoQ CC growth) performance.

TCS expects the cross currency movements to have an adverse impact of 230bp. We expect 2.7 percent QoQ growth in constant currency, and estimate reported revenue at USD 3.95b, +0.4 percent QoQ.

Gross margin is estimated to be flat at 46.1 percent and our SGA estimate is 17.3 percent, resulting in flat margins during the quarter. Adverse movements in cross currencies have been accompanied by marginal appreciation of the INR (30bp) during the quarter. Hence, there is a negative impact of 40bp on margins during the quarter. We expect that to be offset by internal efficiencies.

Our PAT estimate for the quarter is INR 54.8b, up 0.7 percent QoQ, on the back of lower forex gains (INR 2b v/s INR 2.93b in 3Q).

The stock trades at 20.1x FY16E and 16.8x FY17E earnings.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any
investment decisions.

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Nifty may trade between 8850-8870: Indira Securities

According to a report by Indira Securities, Nifty likely to trade in the range between 8850 - 8870 in the upper side and 8810 – 8790 in the lower side.

Indira Securities' Market Report:

After witnessing consolidation in previous trading session, local equity markets staged a smart recovery at the start of the week, ending with gains of over half of a percent which lifted both Sensex and Nifty above psychologically crucial 29,000 and 8,800 levels respectively on sustained buying activities by funds and retail investors thanks to positive global cues.

Markets after making a muted start, witnessed momentum in afternoon deals and majorly in last hour of trade, notablyahead of the release of March CPI data. India's consumer inflation probably edged up in March for the fourth straight month from a record low in November, as heavy rains drove up food prices, giving the central bank pause for thought as it waits for the next chance to cut interest rates.

For today's trade Nifty likely to trade in the range between 8850 - 8870 in the upper side and 8810 – 8790 in the lower side.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any
investment decisions.

To read the full report click here

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Alzheimer drug nod won't impact Lupin, Glenmark: Expert

Surajit Pal, analyst, Prabhudas Lilladher continues to have a positive outlook on Glenmark with a target price of Rs 1186 per share.

Pharma major  Lupin and  Glenmark Pharma have received a USFDA nod for an Alzheimer's drug. Surajit Pal, analyst, Prabhudas Lilladher believes the same won't have too much impact on either company.

Pal continues to have a positive outlook on Glenmark with a target price of Rs 1186 per share.

Watch video for more.

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Indian ADRs: Tata Motors slips 3%, Wipro Infosys down

Indian ADRs ended lower on Monday. ICICI Bank was down 0.1 percent and Tata Motors slipped 3.03 percent.

Indian ADRs ended lower on Monday. In the IT space, Infosys shed 0.25 percent at USD 36.22 and Wipro was down 1.14 percent at USD 13.03.

In the banking space, ICICI Bank was down 0.1 percent at USD 10.49 and HDFC Bank was up 0.29 percent at USD 58.90.

In the other sectors, Tata Motors slipped 3.03 percent at USD 44.21 and Dr Reddy's Laboratories fell 0.89 percent at USD 59.87.

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Asia mixed on poor US finish, falling iron ore prices

Asian stocks were mixed early Tuesday, with sentiment subdued after Wall Street broke a three-day winning streak overnight and the ongoing rout in commodity prices.

US stocks finished lower on Monday as worries heightened that a strong U.S. dollar could weigh on earnings at major companies. First-quarter earnings season officially kicks off Tuesday, with blue chips JPMorgan Chase and Intel reporting.

The Dow Jones Industrial Average and S&P 500 gave up morning gains to close down 0.5 percent each, while the tech-heavy Nasdaq dipped in and out of negative territory before closing down 0.2 percent on the day.

Nikkei flat

Japan's Nikkei 225 was virtually unchanged by mid-morning trade, remaining short of the psychologically-important 20,000 mark.

Shares of shopping website operator Rakuten advanced 1.8 percent on news that it's planning to acquire online content company PopSugar for USD 580 million. The Japanese conglomerate has been on an acquisition spree, having bought US eBook firm OverDrive last month.

Banking counters were buoyant in early trade, with Resona Holdings and Mitsubishi UFJ Financial Group up over 1 percent each.

Mainland indices choppy

China's Shanghai Composite index inched up 0.2 percent, reversing a lower open, while Hong Kong's Hang Seng index tanked nearly 1 percent at the open after a blistering run-up over the past sessions.

The sell-off was prominent in the insurance, securities and banking sectors; Citic Securities plunged 1.6 percent in Shanghai and 3.4 percent in Hong Kong. Bank of China traded down 1.3 and 0.4 percent, respectively.

Kospi rises 0.3 percent

South Korea's Kospi index pushed through the 2,100-point level for the first time in nearly four years.

Retailers are among the top gainers; Hotel Shilla rallied 12 percent, after surging the daily limit of 15 percent in the previous session, following news that it is joining hands with construction firm Hyundai Development to open the nation's biggest duty free store in Seoul. Lotte Shopping and Shinsegae elevated 2.9 and 3.8 percent, respectively.

Cosmetics maker AmorePacific lost 2.6 percent after hitting all-time highs on Monday.

ASX falls 0.3 percent

Australia's S&P ASX 200 index declined amid mixed trading among its key banking and resources sectors.

Early-trade laggards include BHP Billiton and Rio Tinto, down 1.5 and 0.5 percent each, as iron ore prices continued to flirt with multi-year lows. Major lenders such as Australia and New Zealand Banking Group and Commonwealth Bank of Australia dropped 0.7 and 0.2 percent, respectively.

Suncorp jumped 2.4 percent, seemingly unaffected by news of a leadership change.

Southeast Asia

Singapore's economy grew faster than expected in the first three months of 2015, government data showed on Tuesday, even as the Monetary Authority of Singapore - the country's default central bank - surprised markets by announcing no change to its monetary policy. Gross domestic product (GDP) grew an annualized 2.1 percent in January-March from the year-ago period, stronger than the 1.8 percent forecast in a Reuters poll.

Following the news, the Singapore dollar strengthened as much as 1.3613 against the US dollar from USD 1.3720, while the Straits Times index inched up modestly to near its highest level since December 2007.

Indonesia's central bank will likely hold its key policy rate steady when policymakers meet on Tuesday, Moody's Analytics wrote in a note.

"The recent depreciation of the rupiah has led to increases in the price of fuel. After reducing its fuel subsidy policies, the government allows fuel prices at the pump to mimic the market price. Thus, Bank Indonesia (BI) will aim to keep a lid on rising costs," analysts said.

Meanwhile, markets in Thailand and India are closed for public holidays.

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China's March exports shrink 15% y/y in surprise fall

China's export growth contracted 15 percent in March from a year earlier in a surprise drop that will exacerbate concerns about the slackening Chinese economy.

Analysts had expected exports to rise 12 percent in March on a yearly basis.

In a sign of soft domestic demand, imports into the world's second-biggest economy also shrunk 12.7 percent last month compared with a year ago, data from the General Administration of Customs showed.

That compared with a Reuters poll forecast for a 11.7 percent drop in imports.

"The slump in the exports figure is mainly due to the weak global demand, while the appreciation in dollars against other currencies in the past quarter was also negative for China's exports," said Nie Wen, a strategist at Hwabao Trust in Shanghai.

"More stimulus measures are needed in the future."

The trade performance left China with a trade surplus of USD 3.1 billion last month, much smaller than forecasts for a USD 45.4 billion trade gap.

In line with the slowing Chinese economy, China's trade sector has been buffeted by lacklustre foreign and domestic demand in the past year, raising concerns among policymakers.

Chinese vice premier Wang Yang was quoted by Xinhua state news agency as saying earlier this month that authorities must act to arrest China's export slowdown lest it further dampens economic growth.

Wang was quoted as saying that local governments should offer "preferential policy support" and encourage more private investment in the export sector.

Tepid growth in the trade sector could hurt jobs, which the government wants to protect for fear that widespread unemployment could fuel social discontent and trigger unrest.

So far, China's labour market appears to be holding up well, despite signs that economic growth is steadily grinding to its lowest in a quarter of a century of around 7 percent.

Data on growth in the first quarter will be released on Wednesday.

China expanded grew its trade sector by 3.4 percent in 2014, according to government data, missing the government's growth target of 7.5 percent by more than half.

Taking that disappointing outcome into account, the government has lowered its growth target for 2015 combined imports and exports to around 6 percent.

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Market may open on flat to positive note: Way2Wealth

According to Way2Wealth, markets are expected to open on flat to positive note and on higher side will continue to see stiff resistance around 8800-8840 levels.

Way2Wealth's Derivative Report:

Indian bourses continued to trade with positive biasness last week and rallied by more than 2 percent on weekly basis. From lower levels short covering coupled with fresh buying was seen in capital goods, PSU bank, realty, metals and Oil marketing sector that helped nifty to close above 8750 levels.

In Friday's session all the major indices closed on flat note whereas OI reduced by almost 1.5 percent. Fresh buying activity was seen in infra, power and capital goods sector. Major long positions were added in stocks like Voltas, Tata Global, GMR Infra, HDIL, recltd and Godrej Ind. Short unwinding pressure was seen in PSU banks, metal and textile sector. Stocks like SBI, Sesa Sterlite, RComm, Oriental Bank, SAIL and Reliance Infra saw short covering from lower levels.

Short accumulation was seen in stocks like Lupin, Federal Bank, Shriram Transport, Just Dial, Hero Motocorp and Jindal Steel.

This week markets are expected to open on flat to positive note and on higher side will continue to see stiff resistance around 8800-8840 levels. Overall, markets are expected to trade in broad range of 8650-8850 level for some time before giving any fresh breakout on either side.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any
investment decisions.

To read the full report click here

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Gold regains Rs 27K level on global cues

Besides, increased buying by jewellers to meet wedding season demand helped the precious metal to recapture the crucial level. Silver also advanced by Rs 150 at Rs 36,900 per kg on increased offtake by industrial units and coin makers.

Gold prices rose for the second straight day and reclaimed the psychologically important Rs 27,000-mark, surging by Rs 280 to trade at Rs 27,080 per 10 grams at the bullion market on Saturday amid a firming global trend.

Besides, increased buying by jewellers to meet wedding season demand helped the precious metal to recapture the crucial level. Silver also advanced by Rs 150 at Rs 36,900 per kg on increased offtake by industrial units and coin makers.

Bullion traders said besides a firming trend overseas, increased buying by jewellers mainly led to the rise in gold prices.

Gold in New York, which normally sets price trend on the domestic front, shot up by 1.16 percent to USD 1,207.30 an ounce and silver by 2.07 percent to USD 16.49 an ounce in yesterday's trade.

In the national capital, gold of 99.9 and 99.5 percent purity rose by Rs 280 each to Rs 27,080 and Rs 26,930 per 10 grams, respectively.

It had gained Rs 50 yesterday. However, Sovereign remained flat at Rs 23,700 per piece of eight grams in scattered deals. In a similar fashion, silver ready rose further by Rs 150 at Rs 36,900 per kg and weekly-based delivery by Rs 310 at Rs 36,710 per kg.

On the other hand, silver coins, however, traded at last level of Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.

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Why the euro could fall even further

It's been a one-way euro trip lower. The common currency has fallen every day this week, and is now near the lowest levels in 12 years.

Now, currency traders are keenly watching American economic data, as better news about the economy could lead the euro drop to intensify.

It all comes down to expectations about the Federal Reserve's next move. Most market participants believe the Fed will raise short-term rate targets this year. That should help the US dollar and hurt the euro, as it means that holding dollars will produce greater returns than holding euros, increasing demand for the greenback.

Expectations about a June Fed move have been tamped down due to a bevy of soft economic readings, most conspicuously the March jobs number. But this week, the Fed minutes and hawkish words from William Dudley have told investors that a June hike is still on the table, according to Boris Schlossberg of BK Asset Management.

Dudley, the generally dovish New York Fed president, told Reuters on Wednesday that depending on how the data develops, a June move could be "still in play."

Read More: American stocks are the world's worst this year

In the week ahead, Schlossberg says the biggest data point he will watch is Tuesday's retail sales report. If it indicates that "the US consumer finally started to spend, then dollar bulls run wild, and we may see 1.0500 break" on the euro, which is currently a bit below 1.0600 per dollar.

That's because better data could serve to convince traders that the much-awaited Fed move will come sooner than previously anticipated.

However, some traders say the move is overdone.

"This short-term move is technical, so I expect to see the euro bounce and the dollar pull back off of the recent move," said David Seaburg, head of equity sales trading with Cowen and Co.

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